Jordan, Azerbaijan eye more joint investments

16 May 2010
Amman , Jordan

His Majesty King Abdullah on Sunday held talks with Azerbaijan President Ilham Aliyev on means to boost bilateral cooperation, particularly in the economic, trade and investment fields.

The two leaders reviewed available opportunities to increase cooperation in the agricultural, energy and transportation sectors with the participation of the private sectors in both countries.

King Abdullah said the private sector in Azerbaijan could participate in the infrastructure projects Jordan has planned for vital sectors.

Discussions also covered the latest developments in the Middle East and efforts to end the Palestinian-Israeli conflict based on the two-state solution and within a regional context that brings security and stability to the region.

In press remarks after the talks at the presidential palace, the King said that the two sides identified ways of cooperation in the agriculture, energy and services sectors and discussed several joint opportunities that emerged over the past years.

King Abdullah, who returned home later in the day, expressed his satisfaction with the talks.

He said it is important “for all of us” to achieve a comprehensive solution for the Palestinian-Israeli conflict based on the two-state solution that guarantees the establishment of a viable and sovereign state for Palestinians that lives alongside Israel in security and stability.

The Azeri president said that economic cooperation between Jordan and Azerbaijan can be improved by supporting communication between the private sectors and investors in both countries.

Also Sunday, the King met with Azerbaijan's Prime Minister Artur Rasizade and stressed the importance of implementing agreements signed between the two countries and translating them into joint projects. He expressed Jordan's keenness to attract more Azeri investments to the Kingdom.

King Abdullah also toured a centre for military industries in Baku where he was briefed on the products manufactured by the facility.

During the King's visit to Azerbaijan, the two countries signed an international cooperation agreement.

Trade exchange between Jordan and Azerbaijan during the past two years increased by 43 per cent to reach JD10 million, which mainly favours Jordanian exports. Investment volume also increased as 15 Jordanian companies are operating in Azerbaijan, while seven Azeri companies are working in Jordan.

A total of 30 bilateral agreements have been signed in the economic, political and technical fields, including agreements for investment promotion and protection, a protocol for economic and trade cooperation and a memorandum of understanding for political cooperation and views exchange.